R Systems International announces Q4 results

By SiliconIndia   |   Tuesday, 26 February 2008, 12:21 Hrs
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Noida: R Systems International, a provider of outsourced product development and customer support services, has announced the financial result of fourth quarter and the Calendar Year 2007. The company recorded FY'07 revenue of 247.1 crores ($ 59.74million), showing a 21.14 percent growth (32.70 percent in dollar terms). The net profit for the same period was Rs18.9 crores.

For the quarter ended on December 31 2007, the company registered a consolidated revenue of 64.7 crores ($16.3 million) and net profit of Rs 6.9 crores, showing a YoY growth of 15.44 percent (31.02 percent in dollar terms) and a sequential QoQ growth of 0.89 percent (3.45 percent in dollar terms).

For the quarter ended December 31, 2007, net profit after tax was 6.91 crores ($1.71million) compared to a loss of 6.56 crores ($ 1.44 million) in the same period last year. Seven customers were added during the quarter.

Total number of employees as on December 31, 2007 increased to 1,917 as compared to 1,601 at the end of December ?06. R Systems added a net of 138 employees during the fourth quarter.

For the FY ended on December 2007, the company's net profit after taxes was 18.97 crores ($4.59mn) compared to 7.82 crores ($1.73) in FY, 2006, showing a YoY growth of 142.47 percent. Basic earnings per share were Rs 13.97 in FY 2007 as compared to earnings per share of 6.17 in FY 2006, a growth of 126.49 percent.

"We achieved record revenues and profits in FY 2007, with revenues registering a growth of over 30 percent and profits recording a growth of over 150 percent on dollar basis. Subject to shareholder approval we intend to increase dividend to shareholders to 18 percent, an increase of 50 percent over previous year," said Rekhi Singh, Chairman and Managing Director, R Systems.

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